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Staples Owner Sycamore Partners Has Become Its Landlord Too

  • Staples gave campus worth $150 million to Sycamore for free
  • It will now pay at least $131 million in rent for the building
A vehicle drives past a Staples Inc. store in Clawson, Michigan.
Photographer: Sean Proctor
Updated on

Sycamore Partners can add another $150 million to the amount it has extracted from the office supply giant Staples Inc. since taking it private in 2017.

After taking some $1.3 billion in dividends earlier this year, the private equity firm has gotten its hands on another of Staples’s assets: its 650,000-square-foot headquarters in the Boston suburbs.